Majorn Auto Parts Store had net income of $93,000 for the year just ended. Majorn...
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Accounting
| Majorn Auto Parts Store had net income of $93,000 for the year just ended. Majorn collected the following additional information to prepare its statement of cash flows for the year: |
| Increase in accounts receivable | $126,000 |
| Decrease in inventory | $30,000 |
| Decrease in accounts payable | $47,000 |
| Increase in retained earnings | $41,000 |
| Cash received from sale of building | $227,000 |
| Gain on sale of building | $59,000 |
| Depreciation expense | $44,000 |
| Majorn uses the indirect method to prepare its statement of cash flows. What is Majorn's net cash provided (used) by operating activities? |
$53,000
$315,000
$(65,000)
$221,000
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